The Hindu Business Line : Taj GVK Hotels Q4 profit after tax rises to Rs 18.32 cr

Hyderabad April 24 TajGVK Hotels and Resorts Ltd has recorded a total income of Rs 68.45 crore in the fourth quarter as against Rs 61 crore in the same quarter last year, showing a growth of 12 per cent.

Profit after tax (PAT) stood at Rs 18.32 crore (Rs 15.42 crore), the company said here in a press release.

For the financial year 2006-07, the company registered a total income of Rs 244.22 crore as against Rs 189.39 crore in the last year, showing a growth of 29 per cent.

The PAT went up by 39 per cent to Rs 64.32 crore as against Rs 46.25 crore in the last year.

The board of directors has recommended a dividend of 150 per cent for 2006-07.

Expansion plan

The company has a slew of expansion plans worth Rs 450 crore at various stages of implementation in Chennai and Hyderabad. The Rs 125-crore Taj Mount Road (Chennai) project is likely to be operational by mid-2007.

Civil works at the new hotel project at Begumpet (Hyderabad) would begin shortly. The Rs 70-crore hotel, which would have 200 rooms, would be operational next year.

The company also lined up expansion of Taj Krishna and Taj Deccan (both in Hyderabad) at a total cost of Rs 220 crore. "We are waiting for necessary approvals," it said.